GoDaddy Reports Customer Growth and More Earned Per User

GoDaddy Reports Customer Growth and More Earned Per User

GoDaddy Inc reported a better-than-expected 15.3 percent jump in quarterly revenue as the web-hosting company attracted more customers and earned more per user.

GoDaddy, which managed about 62 million Internet domains or about 20 percent of the world's total as of Dec. 31, said the number of customers rose 7.6 percent to 14.1 million in the first quarter.

Average revenue per user increased about 7 percent to $123.

The company forecast revenue of between $448 million (roughly Rs. 2,981 crores) and $452 million (roughly Rs. 3,008 crores) for the second quarter and between $1.83 billion (roughly Rs. 12,179 crores) and $1.845 billion (roughly Rs. 12,280 crores) for the full year.

Analysts on average were expecting revenue of $451.5 million for the second quarter and $1.84 billion for the full year, according to Thomson Reuters I/B/E/S.

The company's shares fell about 3.7 percent to $29.50 in after-market trading on Wednesday.

Scottsdale, Arizona-based GoDaddy has been investing heavily to enter new markets and plans to be present in the greater Asia region by the end of 2016.

GoDaddy's international revenue rose 16.7 percent to $112.7 million in the first quarter ended March 31.

Founded 19 years ago, GoDaddy competes with Endurance International Group Inc , Amazon.com Inc as well as Alphabet Inc's Google unit, in the domain registration business.

GoDaddy, known for its racy TV commercials, said bookings rose about 11.9 percent to $557.8 million in the latest quarter.

The company's net loss narrowed to $18.3 million, or 15 cents per share, in the first quarter, from $43.4 million, or 34 cents per share, a year earlier.

Revenue rose to $433.7 million from $376.3 million.

Analysts had expected a loss of 18 cents on revenue of $430.6 million.

© Thomson Reuters 2016

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